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Suryansh is working in an MNC and living in Mumbai who is 30-year-old, His monthly family household expenses are Rs. 35,0000 and gross salary is 90000 per annum. As Suryansh is bread and butter earner of family, He wants to cover himself with an adequate amount of insurance. Simultaneously very keen for a proper retirement planning. He will retire at 60 and want to have corpus for 25 years of expenses post retirement which will be 80% of his current Expenses
Suryansh is always keen for study and wants to do a marketing specialization course after three years. Course will cost him 12 Lac in current value.
Suryansh is running a sip of Rs. 12000 in a Diversified Equity Mutual Fund from last 7 years for this Goal..
Suryansh is willing to buy a house in Mumbai for after adjusting the down payment he plans to take a 20-year loan of Rs. 55 Lakhs. The EMI for this works out to be Rs. 41402.
Suryansh is really not sure that he will be able to meet out his monthly household expenses liabilities post payment of EMI regularly. Suryansh has received a Gift from his Grand Father of Rs 12Lac which he is confused to use between house or investment.
Required to answer the following questions based on the above data.
Question No. 1 : As Suryansh is confused what to be done with the gift, he has received from his grandfather pls suggest the best course of Action for him
Suryansh wants to pursue the course after three years. The cost of course is increasing with the rate of 10%, What is the best course of action suggested to him.
(Returns Expected: Long term equity returns can be 11.5%, Short term debt funds returns at 7%.)
Asset allocation is a process which distributes money among different asset classes according to Goal, Age and Several other factors in the life span of investment. What asset allocation will you suggest to suryansh considering his goals and current situation..
What shall be ideal life cover for suryansh if he wants to replaces his income for the benefit of his wife in case any exigency with him. (Inflation at 5.5% and investment returns at 7%) .
What will be the retirement corpus that Suryansh should accumulate at the age of 60 and the monthly SIP investment required to achieve the corpus? (Inflation is at 5.5% and investment will be done at diversified equity at 11.5%, Post retirement Rate is 9%).
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